Apellis Pharmaceuticals (NASDAQ:APLS) Releases Earnings Results

Apellis Pharmaceuticals (NASDAQ:APLS) announced its quarterly earnings data on Friday. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.08, Zacks reports. The company had revenue of $212.50 million for the quarter, compared to analyst estimates of $197.92 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. Apellis Pharmaceuticals’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.73) EPS.

Apellis Pharmaceuticals Stock Down 3.4 %

Shares of Apellis Pharmaceuticals stock traded down $0.87 on Friday, hitting $25.13. The company had a trading volume of 1,502,002 shares, compared to its average volume of 1,753,226. The stock has a 50-day moving average of $30.04 and a 200-day moving average of $31.62. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. Apellis Pharmaceuticals has a twelve month low of $24.33 and a twelve month high of $66.00. The firm has a market capitalization of $3.13 billion, a P/E ratio of -12.32 and a beta of 0.96.

Insider Buying and Selling

In related news, CEO Cedric Francois sold 2,824 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $29.52, for a total value of $83,364.48. Following the completion of the transaction, the chief executive officer now directly owns 415,695 shares of the company’s stock, valued at approximately $12,271,316.40. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James George Chopas sold 1,096 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $33,351.28. Following the transaction, the chief accounting officer now owns 48,138 shares in the company, valued at approximately $1,464,839.34. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,365 shares of company stock worth $1,810,479 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Apellis Pharmaceuticals in a research note on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price target for the company. Needham & Company LLC cut their target price on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Oppenheimer lowered their price target on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Piper Sandler reduced their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup dropped their price target on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).